Acadian Asset Management LLC lowered its holdings in Zscaler, Inc. (NASDAQ:ZS – Free Report) by 97.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 673 shares of the company’s stock after selling 30,170 shares during the period. Acadian Asset Management LLC’s holdings in Zscaler were worth $97,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Maryland State Retirement & Pension System boosted its holdings in Zscaler by 4.0% in the 2nd quarter. Maryland State Retirement & Pension System now owns 6,662 shares of the company’s stock worth $975,000 after acquiring an additional 255 shares during the period. Arthur M. Cohen & Associates LLC boosted its holdings in Zscaler by 0.8% in the second quarter. Arthur M. Cohen & Associates LLC now owns 11,828 shares of the company’s stock valued at $1,730,000 after purchasing an additional 91 shares during the last quarter. Romano Brothers AND Company acquired a new stake in Zscaler during the 2nd quarter valued at approximately $223,000. Cambridge Investment Research Advisors Inc. increased its holdings in Zscaler by 1.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,366 shares of the company’s stock worth $1,663,000 after purchasing an additional 154 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Zscaler by 13.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 9,128 shares of the company’s stock valued at $1,335,000 after buying an additional 1,090 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.
Insider Buying and Selling
In other news, insider Robert Schlossman sold 5,013 shares of Zscaler stock in a transaction on Monday, September 18th. The stock was sold at an average price of $154.45, for a total transaction of $774,257.85. Following the transaction, the insider now owns 130,764 shares in the company, valued at $20,196,499.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Robert Schlossman sold 5,013 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $154.45, for a total transaction of $774,257.85. Following the completion of the sale, the insider now directly owns 130,764 shares in the company, valued at $20,196,499.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amit Sinha sold 3,680 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $183.94, for a total transaction of $676,899.20. Following the completion of the transaction, the director now owns 36,800 shares in the company, valued at approximately $6,768,992. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,758 shares of company stock valued at $15,782,935. Company insiders own 19.80% of the company’s stock.
Zscaler Stock Performance
Zscaler (NASDAQ:ZS – Get Free Report) last posted its quarterly earnings data on Tuesday, September 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.15. Zscaler had a negative return on equity of 31.64% and a negative net margin of 12.51%. The firm had revenue of $455.00 million for the quarter, compared to the consensus estimate of $430.38 million. During the same quarter in the previous year, the company earned ($0.40) EPS. The business’s revenue for the quarter was up 43.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Zscaler, Inc. will post -1.11 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages recently issued reports on ZS. The Goldman Sachs Group lifted their price target on shares of Zscaler from $154.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, September 7th. Stephens restated an “overweight” rating and issued a $190.00 target price on shares of Zscaler in a research note on Wednesday, September 6th. Canaccord Genuity Group lifted their price target on Zscaler from $172.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, September 6th. Rosenblatt Securities upped their price objective on Zscaler from $185.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 16th. Finally, Scotiabank lifted their target price on Zscaler from $155.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and an average target price of $185.51.
Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.
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